Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Given Average Rating of “Buy” by Brokerages
Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) have been assigned an average rating of “Buy” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $6.40.
A number of research firms have recently commented on RIGL. BMO Capital Markets reiterated an “outperform” rating and set a $5.00 price target (up previously from $4.00) on shares of Rigel Pharmaceuticals in a report on Monday, June 19th. Zacks Investment Research cut shares of Rigel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of Rigel Pharmaceuticals in a report on Wednesday, May 3rd.
Shares of Rigel Pharmaceuticals (RIGL) traded down 1.19% during mid-day trading on Friday, reaching $2.50. The company had a trading volume of 201,411 shares. Rigel Pharmaceuticals has a 12-month low of $1.94 and a 12-month high of $4.38. The company’s market capitalization is $306.08 million. The firm has a 50-day moving average of $2.56 and a 200-day moving average of $2.63.
Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.01. Rigel Pharmaceuticals had a negative net margin of 354.14% and a negative return on equity of 96.24%. The firm had revenue of $3.58 million for the quarter, compared to analysts’ expectations of $4.30 million. During the same quarter in the previous year, the company earned ($0.19) EPS. On average, equities analysts anticipate that Rigel Pharmaceuticals will post ($0.54) earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the company. FMR LLC boosted its stake in shares of Rigel Pharmaceuticals by 4.6% in the fourth quarter. FMR LLC now owns 14,833,279 shares of the biotechnology company’s stock valued at $35,303,000 after buying an additional 652,133 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Rigel Pharmaceuticals during the fourth quarter valued at about $459,000. Marshall Wace North America L.P. bought a new stake in shares of Rigel Pharmaceuticals during the first quarter valued at about $5,935,000. State Street Corp boosted its stake in shares of Rigel Pharmaceuticals by 7.1% in the fourth quarter. State Street Corp now owns 1,712,369 shares of the biotechnology company’s stock valued at $4,070,000 after buying an additional 112,796 shares in the last quarter. Finally, Palo Alto Investors LLC boosted its stake in shares of Rigel Pharmaceuticals by 1.9% in the first quarter. Palo Alto Investors LLC now owns 4,254,623 shares of the biotechnology company’s stock valued at $14,083,000 after buying an additional 78,000 shares in the last quarter. Institutional investors own 89.84% of the company’s stock.
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About Rigel Pharmaceuticals
Rigel Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovering, developing and providing novel small molecule drugs that improve the lives of patients with immune and hematological disorders, cancer and rare diseases. The Company’s pioneering research focuses on signaling pathways that are critical to disease mechanisms.
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